Raise fuel prices to shore up PSU oilcos: Assocham
• NEW DELHI: With global crude oil prices likely to cross $90 a barrel, the losses of oil companies would touch Rs 70,000 crore by March, compared to an estimated Rs 55,000 crore now, according to Assocham. The industry body has suggested that the prices of all petroleum products be raised to help oil companies save their margins from going beyond repairable limits. The price of a litre of diesel should be increased by at least a rupee or two and that of an LPG cylinder by Rs 20 to help oil marketing companies (OMCs) minimise losses. The proposed increase in prices would fetch OMCs revenue of Rs 15,000 crore for the remaining period of the current year, Assocham said.